Question
These are selected 2022 transactions for Ayayai Corporation: Jan. 1 Purchased a copyright for $81,000. The copyright has a useful life of 6 years and
These are selected 2022 transactions for Ayayai Corporation:
Jan. 1 | Purchased a copyright for $81,000. The copyright has a useful life of 6 years and a remaining legal life of 30 years. | |
Mar. 1 | Purchased a patent with an estimated useful life of 4 years and a legal life of 20 years for $24,000. | |
Sept. 1 | Purchased a small company and recorded goodwill of $111,000. Its useful life is indefinite |
Dec. 31 | Enter an account title to record amortization of Copyrights on December 31 | Enter a debit amount | Enter a credit amount |
---|---|---|---|
Enter an account title to record amortization of Copyrights on December 31 | Enter a debit amount | Enter a credit amount | |
(To record amortization of Copyrights) | |||
Dec. 31 | Enter an account title to record amortization of Patents on December 31 | Enter a debit amount | Enter a credit amount |
Enter an account title to record amortization of Patents on December 31 | Enter a debit amount | Enter a credit amount | |
(To record amortization of Patents) | |||
Dec. 31 | Enter an account title to record amortization of Goodwill on December 31 | Enter a debit amount | Enter a credit amount |
Enter an account title to record amortization of Goodwill on December 31 | Enter a debit amount | Enter a credit amount | |
(To record amortization of Goodwill) |
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